* May also see some delays in Q1, Q2 of 2011
* Cuts 2010 revenue growth view
* Raises 2010 capital orders outlook
* Shares fall 10 pct
Oct 13 Medical device maker Stereotaxis Inc
STXS.O said its third- and fourth-quarter revenue will be
hurt by installation delays, and sees 2010 revenue to grow in
the high single digit percentage range, down from previously
expected mid-20 percent.
The company also expects to see some installation delays in
the first and second quarters of 2011.
For the third quarter, Stereotaxis sees revenue of
$13.5-$14 million. Analysts were expecting revenue of $16.1
million, according to Thomson Reuters I/B/E/S.
However, the company said it now expects capital orders for
2010 to increase by about 45-50 percent over 2009. Previously,
it was expecting new orders for 2010 to increase by over 40
The broad medical device sector has recently fallen into
hard times as a fallout of the economic recession that forced
many Amricans to delay or go without medical care.
Capital equipment makers like Steretaxis -- which makes a
cardiology-instrument control system for use in hospitals --
saw demand dwindling as hospitals try to cut costs in order to
fight declining patient volumes.
The company's shares, which lost 7 percent of their value
since the company posted its second-quarter results, were down
10 percent to $3.69 in after-hours trade. They closed at $4.12
Wednesday on Nasdaq.
(Reporting by Esha Dey in Bangalore; Editing by Jarshad